An idea of what kind of hardware you're running would be a good place to start. Each platform has it's own method(s) of overclocking.

As far as benefits go.... depends on what you're doing. If you're doing something that requires a fair bit of data crunching, then yes, you'll see an improvement....... If it's mostly GPU dependent gaming, then the extra 2 FPS you get might not be worthwhile.

For a good portion of us it's not even really about the improved performance, it's about the thrill of squeezing every last ounce of horsepower out of our systems. (not unlike the folks who endlessly tinker with their automotive motors, even though the fastest they'll ever go is down to the corner store........ ;) ).

K! I didn't think it would be so hardware dependent, as in the process could be different enough for each "platform". By "platform" do you mean CPU RAM and possibly OS? I guess OS would make somewhat of a difference too as they handle things differently, no? I just wanted to get a heads up for when I get my new rig, which should be done in a couple of months. I was planning on getting 920 I7, 64 bit Win 7 pro.

for each "platform". By "platform" do you mean CPU RAM and possibly OS?

No the important part is the motherboard chipset that you are using = you mention an i7 920 so the chipset will be "X58".
The second part is the actual motherboard brand/model you will be using as each manufacturer has it's own quirks.

2 methods - Now most of us here will be talking about Overclocking from the BIOS (BIOS is the preferred method IMO) but most motherboards today will also include a software overclock utility that does a lot of the work for you. (I've never really used the software versions myself)

A good powersupply and a good CPU heatsink is also a must for overclocking.

__________________"Try looking into that place where you dare not look! You'll find me there, staring out at you!" - Frank Herbert

I understand why it's a healthier and more rewarding to manually edit the BIOS yourself and use tools on OS just to observe results (status etc. ). How do the front end programs OC? If you use one of these programs, will you see exactly what it does by going to your BIOS or is the change somehow on top of the BIOS?